NEW YORK: With expectations for slowing growth escalating, US fund managers are selectively avoiding stocks in consumer companies as lofty valuations, concerns about declining earnings estimates, and consumer confidence keep them on guard. Low US unemployment and rising wages should point to a healthy consumer, but worries about global growth,
LONDON: Britain’s regulator said energy suppliers could increase consumer bills by 117 pounds ($151) a year from April 1 as it announced an increase in its annual price cap on Thursday, due to rising wholesale costs. Ofgem was tasked by parliament to set a limit after lawmakers said customers were
A mural by British street artist Banksy on a fire-exit door at Paris’ Bataclan theatre, where Islamist militants killed 90 people three years ago, has been stolen, the venue said. The work, one of a series of murals painted last June in the French capital and attributed to Banksy, showed
Before Islamic State militants were dislodged from Iraq in 2017, they stole thousands of ancient artifacts. Most are still missing, and an international team of archaeologists is turning detective to recover as many as possible. In 2014 and 2015, during its occupation of most of the country, the jihadist group
FRANKFURT: Deutsche Bank returned to profit in 2018, its first in four years, despite a greater-than-expected loss in the fourth quarter, the German lender said yesterday. Deutsche Bank has been trying to turn itself around under a new leadership, but has faced continuous hurdles, including allegations of money laundering, ratings
LONDON/HONG KONG: Factory activity was at its weakest in years across much of the world during January, adding to worries trade tariffs, political uncertainty and cooling demand poses an increasing threat to global growth. Weak Purchasing Managers Index (PMI) readings reinforce expectations central banks will put any further interest rate
TOKYO: Honda Motor Co Ltd yesterday reported a 40.2 per cent drop in third-quarter operating profit, missing market expectations due to higher discounting and quality-related costs. Japan’s third-biggest automaker posted profit of 170.1 billion yen ($1.56 billion) for October-December, from 284.5 billion yen in the same period a year earlier.
NEW YORK: An employee of a New York billionaire’s family spent the weekend stuck in the elevator of the family’s Manhattan townhouse before she was rescued on Monday, officials said. The homeowners spent the weekend away and discovered the woman was trapped when they arrived back home on Monday, according
PHNOM PENH: Cambodia renewed calls for arrest of veteran opposition chief Sam Rainsy yesterday amid the threat of sanctions by the European Union, its biggest garment export market worth billions of euros a year, over human rights concerns. Sam Rainsy’s opposition Cambodia National Rescue Party (CNRP) was dissolved by the
MANILA: A predominantly Muslim area of the southern Philippines has returned a resounding “Yes” in this week’s referendum on greater autonomy, boosting hopes for peace in one of Asia’s most conflict-torn regions. The plan to create a self-administered area for the Muslim-dominated parts of Mindanao was backed by 85 percent
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